20 March 2013 — Australia’s farmland is attracting investors, the Canada Pension Plan Investment Board says.
One of the world’s largest pension funds, CPP plans to start buying Australian farmland with rising demand for protein as people become wealthier and eating habits change.
It believes the change will benefit Australian agricultural producers who supply Asia.
CPP already manages about $173 billion of assets and has $6.2 billion invested in Australia including in tollroads and shopping centres.
It helps forms a consortium bidding for Sydney’s Port Botany and Port Kembla assets and may also invest further at Sydney’s Barangaroo development. Last year CPP committed $1 billion to develop two office towers with Lend Lease.
CPP chief executive Mark Wiseman said Barangaroo was a long-term investment with its high environmental ratings attractive to tenants.